We are pleased to announce the formation of HL Finance, LLC (“HL Finance”), a syndicated leveraged finance platform established to arrange senior secured leveraged loans for financial sponsor-backed, privately-held, and public corporate entities.
HL Finance will act as arranger on syndicated loan transactions and has entered into an agreement with HPS Investment Partners, as the initial strategic investor, to participate in the transactions and provide underwriting commitments of up to $1 billion. The new platform will enable the firm to participate in both committed and best efforts transactions across a broad range of financings, including leveraged buyouts, acquisitions, dividend recapitalizations, and refinancings, primarily for borrowers with EBITDA and capital needs in excess of $50 million and $250 million, respectively.
HL Finance will operate as part of our Capital Markets Group, led by Chris Dunlop, Anthony Martino, and Gregg Newman. In anticipation of launching this initiative, the Group has added significant senior talent over the past year, including Matthew Lyness and Ed Ribaudo. Matthew and Ed were both formerly Managing Directors with GE Antares in New York, serving as client team leaders with structuring and syndication responsibilities, respectively.
The establishment of a syndicated leveraged finance platform leverages our core advisory capabilities and relationships and combines them with the credit underwriting and portfolio management strengths of market-leading asset managers. We are excited about the continued growth of our Capital Markets Group and are confident that this new capability, combined with our deep expertise across industry sectors, will substantially increase our ability to support our clients’ needs.